The Enhanced Obligations System Of Financial Holding Companies Probing

When refer to the global financial crisis happened in 2008 which caused by the US sub-prime crisis, I believe that many people still feel frightened. Although our country weathered the test of this crisis, we realized the importance of the steady development of the financial industry for a country. And as an effective mixed-financial organizational structure, financial holding company attracted people's more and more attention. Because the financial holding company possess two attributes make the legal and economic relations between holding companies and their subsidiaries complex, which will cause the special risk. In this condition, the traditional company limited liability system has shown its limitations and the legal personality denied system can compensate for its defect. Therefore the enhanced obligations system will come into being. However, each system's produce has its profound theoretical basis, and the enhanced obligations system is no exception. So have the scholars reached a consensus of theoretical basis of the enhanced obligations system? Now, in our country we still don't have the clear provisions in the law of the financial holding company, but in practice they really exist. How do we make the law in the future about them? That's my purpose of this article. And I hope that these thinking and research will catch some beneficial thinking for the building of enhanced obligations system of financial holding companies in the future.This thesis falls in to three parts except introduction and conclusion:In the first chapter, I will give a brief overview of the meaning of the financial holding companies. And then I will describe the special risks of the financial holding companies in detail, that's why we have to choose the enhanced obligations system. The second chapter is the key section of this thesis, which makes a detailed introduction of the enhanced obligations system of financial holding companies. First of all, this chapter gives the meaning of the enhanced obligations system of financial holding companies, and then introduces the development history of the enhanced obligations system which takes the US for example. Next this paper compares the enhanced obligations system and disregard of corporate personality. The last part is to discuss the theoretical basis of the enhanced obligations system. The essay sorted through the different theories at home and abroad, and concluded that the "quasi agent" theory as the theoretical basis of the enhanced obligations system is a suitable conclusion. The third part will focus on the reality of Chinese financial holding companies and found out that due to the specific history of their development and the current situations in China, hope to be a beneficial reference for our country's legislation of the financial holding companies.